Success in business requires mastering numerous skills. One of
the most important is handling money. For many women, this is still
a challenge-and that's why financial expert Jennifer
Openshaw created a Web site to help women learn about personal
finance.

"Women have different financial needs and concerns [than
men]," says Openshaw, founder and CEO of the Women's
Financial Network. "They didn't grow up talking about
money, and they often feel less confident about making major
financial decisions." WFN is a comprehensive Web site designed
to provide personal financial information to women in a fun, easily
digestible way. There's information on saving, investing,
reducing debt, budgeting and planning for retirement.

We talked to Openshaw about the financial obstacles woman
entrepreneurs face.

Entrepreneur:
What money mistakes do women make when it comes to running their
businesses?

Jennifer
Openshaw: Women don't appreciate their exclusion from a
culture that drives funding new businesses; so when they want to
jump in and act, they need to listen to and learn about what is
essentially a new language. They should find out who's who in
the venture capital community and determine which venture capital
makes the most sense for their business. If they focus and use
their time and energy more effectively, they'll have higher
success rates.

Women underestimate themselves but overestimate others. They can
be strong, intuitive businesswomen, but they're sometimes
afraid to ask the questions crucial to attaining their success.

Entrepreneur:It's been
said that women don't know how to get funding. Why?

Jennifer
Openshaw: The biggest hurdle is access; part of that is
information. Venture capital is dominated by men. Women need to
know funding sources and how to think through the structure of
deals. They need to find business mentors who can bring support,
contacts and negotiating skills to the table.

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